Hungarian developer Wing said on Friday that it has started construction on the country's largest single-block office development, the Magyar Telekom headquarters building.
The project, representing an investment of HUF 50 bn (€160 mln), will consist of a 57,000 m2 headquarter office building, a conference hall with capacity for 300 people and 1,350 parking spaces.
Outside the areas leased by Telekom, an additional 4,000 m2 will be available for letting on the open market.
The development, which is scheduled for completion in the second half of 2018, is being financed by a consortium of banks consisting of UniCredit Bank Hungary, UniCredit Bank Austria and K&H Bank.
Wing is one of the largest office developers in Hungary with a portfolio of over 300,000 m2 valued at HUF 150 bn.
